But only "a couple" members were in favor of more stimulus, as opposed to two months earlier, when a "few" did so.

"A couple of members indicated that the initiation of additional stimulus could become necessary if the economy lost momentum or if inflation seemed likely to remain below its mandate consistent rate of 2% over the medium run," minutes released Tuesday said.

The Fed's language on the overall economy also seemed more upbeat than in January, pointing to "encouraging" jobs data.

Since the financial crisis, the Fed has purchased $2.3 trillion in Treasuries and mortgage debt in the first two rounds of quantitative easing. The intent is that these policies will bring interest rates lower, boosting the economy by giving businesses and consumers access to cheaper credit.